Austin-based Silverback acquires cloud-based computing company – EPM Live
November 20, 2012
Grazed from The Austin American Statesman. Author: Brian Garr.
Austin-based business software company Silverback Enterprise Group has acquired another cloud-based computing company. Silverback, which is backed by $50 million from Austin Ventures, purchased San Diego-based EPM Live, which provides cloud-based project portfolio and work management software that’s built on Microsoft’s SharePoint platform.
The company will be folded into another Silverback-owned company, Boston-based PowerSteering Software, which sells software that helps corporate customers manage projects, IT governance, new product development and other business. Financial terms of the deal weren’t disclosed. Silverback chairman and CEO Jack McDonald said the acquisition is complementary to PowerSteering’s existing offerings and will help solidify the company’s position as the lead vendor of cloud project and portfolio management software…
“The (project and portfolio management) market is growing faster than the enterprise software industry as a whole, and cloud is the fastest growing segment of that market,” he said. “The acquisition of EPM Live increases the scale and resources of the PowerSteering business so we can capitalize on this tremendous growth opportunity. At the same time, it gives our clients access to a broader range of PPM products.”…
Read more from the source @ http://www.statesman.com/news/business/austin-based-silverback-acquires-cloud-based-compu/nS96X/
Grazed from Austin American Statesman. Author: Brian Garr.
Austin-based business software company Silverback Enterprise Group has acquired another cloud-based computing company. Silverback, which is backed by $50 million from Austin Ventures, purchased San Diego-based EPM Live, which provides cloud-based project portfolio and work management software that’s built on Microsoft’s SharePoint platform.
The company will be folded into another Silverback-owned company, Boston-based PowerSteering Software, which sells software that helps corporate customers manage projects, IT governance, new product development and other business. Financial terms of the deal weren’t disclosed. Silverback chairman and CEO Jack McDonald said the acquisition is complementary to PowerSteering’s existing offerings and will help solidify the company’s position as the lead vendor of cloud project and portfolio management software…